the thing, yes, one of these governments that these says 5 digit, you say getting less of a thought provoking nonsense. the e, you made weapons being used in guns. no guns should be used in an offensive way. that's our facing realities you're running. mean, what does he bring to the table? hard from being presidential? could we go to some we cannot take the fact that he was signing up with an s not that important effective he of the story on talk to how does era the hello i'm elizabeth put on them and this is counting the cost on elders ego. your weekly look at the world business and economics this week, the number of older people is increasing around the world. dawson aging workforce close economic challenges,

kind of help transform economies. china steel exports a set to reach an 8 year high, but prices of lung thing and imports into you could search. will that help fuel level type tensions and sales a down and layoffs of rising the global video game industries facing serious challenges? is it in deep trouble or kind of the back game is the problem to us and you're up to japan. and china as well as population is aging by 2050. the number of people age 65 and older, a set to reach 1600000000 globally. that's one and for people in europe in north america, the agent of societies as ways and concerns about the future of the global economy . for decades, europe, the united states, china and japan has beneficial from large working age populations that help drive

economic growth. but the goals, demographics are changing, and fost japan had the 1st major shift by 2015. a course of the population was 65 and older, making up the country with the oldest population in the world. soon, much of western europe is predicted to follow with a record elderly populations. and by 2050 many countries that currently have low g d. p will have large working age labor forces for the 1st time. so is that we'll set for slow economic growth will kind an aging workforce help keep economies training. we'll discuss that with, i guess shortly. but 1st, the support by victoria gates in b at 77 years old. yes. so you could carousel a keeps tending his crops on his farm in central gum. the prefecture, almost 70 percent of depends. 1.4000000 farm is or age 65 and above carousel a feels he has no choice but to keep working with and i killed

a kidney. there are 3 of us including my daughter working here, so i can't just leave. honestly, i'm working hard to get things ready and time. you can let them know that japan has the oldest population in the world. nearly a 3rd of its people already of a 65 is a common trend in developed countries. let's say is population square, all the g d p growth slows. we will only look at to the present aging. yes, indeed, the kind of labor flow. so we directly leave that to us. lower economic goes to the the 1st the reason i understand that reason a's one point reason aging. we normally see um, you know, the slow uh goes to offset consumption demand countries of taking different approaches to the growing shortage of workers. the french government raised the retirement age from 62 to 64. last year. it resulted in mass and the government protests and the reforms had to be forced through the national

assembly without a vote for countries such as australia and the united states. immigration has been the main drive, a population grows. others such as china and japan wants to increase both rates. in 2021, the chinese government relaxed family planning restrictions to allow couples to have up to 3 children. the limits had been to japan announced a series of child friendly policies last year in an effort to reverse the forwarding number of the, the policy on children in the opinion has to come 1st when we consider economic sustainability due to the rapid, to kind of the best rate on nation is about to become incapable of fulfilling social functions unless say developments and technology particularly robotics in a i could help future government support aging populations also growing the economy . achieving that balance will be a priority for many nations in the decades ahead. victoria gates in

b l g 0 for counting the cost that spring and i'll paddle guests. joining us from london is a vivas wishing but cox c o of 21st and from she's a rocha and japan is said you to talk a she said dean and professor of management at the university of she's who are a very room welcome to both of you said, you know, all stuff with use prominence to for me. ok. she that has said japan is on the verge of not being able to function as a society and that increasing the booth raise and child care is key to the country's economic stability. is japan doing what it takes is not enough. i mean, the fact of the matter is, is our per capita g d p is $33000.00, which means that we're part of the mature economy. and from that reason, i think our long term problem of this issue is not a series. like, let's say china, but that said, as you just reported, you know, a mixture of ultra low birth rate,

lowest only next to korea. mix with the highest level of senior citizen certainly is not a very good mix. of course, bit roads possibility. and as you report of yes, a i and other means are definitely there to mitigate this problem, but we're really not up to it yet. not only the government or the corporations, but also the minds of people are still very much behind and being really alert on this problem. i think the, the, somewhere closer to, you know, with japan, italy has the same problems. it has some of the lowest birth rates in the world as like japan, the oldest population in the world. how much do you think increasing the boost raise can help offset the cost of an aging population as well? i think it's absolutely key. there are, there are very few levers to changing the demographics that have been on the books

for many years. and i just want to suggest that this is actually a really good news story of the gift of the 20th century science is that we are all in the developed world, but also in the developing world live in an extra 3 decades of life expectancy and health spans are following this curve. so this is actually really good news and now it's a question of how do we adapt and manage it. i would suggest that these low birth rates all over the world that we're seeing tumbling where japan was. and because of korea, as my colleagues said, were certainly in the vanguard. but now, spain, italy, and much of europe, is right behind it is partly in. and i just did results of women's move into the workforce. we haven't been fully accepted and adapted to these new gender roles at home, which is keeping birth rates low because it's extremely hard for

a couple of today to afford and flexible as to having children. so if we adapt, our systems are economic systems, especially our labor policies, to being more family and parental friendly, which many of these countries we're talking about has not. i think you'll see that that will certainly help it not be enough. immigration is the other lever. okay. and we will talk more about immigration in a moment, but that some really interesting point that you're making that an aging population is a good thing. it's about how we adapt so that it doesn't have a negative impact on the economy. so do you know you've said that japan hasn't adaptive navy enough, but where it has made? i'm not sure if you can use the word progress is that it's in college, so i should a lot more elderly people into the workforce. i was shocked to read that in 2022, almost half of japanese firms relied on workers over the age of 70. that

is that the um, so should that be the answer? also, people have spent a lifetime working that's part of the answer. 13 percent of the japanese above age of $65.00 is working full time. partly because we have a very or you know, pension system in comparison to that of northern countries or in the western year. but um, you know, as a visa was mentioning workforce increase through utilization of women is another big problem. japan has because our gender gap is 116 out of a 146 according to the world economic forum. which if you look at from the other side of the coin, it means there are lots of room for improvement for japan. so yes, that is another possible solution to the problem. but the immigration is another very, very touchy subject in japan. we have deregulated in 2019 and we now have 3200000

which is meaning that japan is a 4th strongest, largest nation of introducing you know, improvements but permanent immigrants. it's a totally different story because we have the 2nd lowest amount compared to the mexico, which means that there still is a resistance now, you know, of or to the immigration policies. and we have tons of homework in this region to be, which is why immigration not just in japan, is often seen as a short time rather than a long term solution. this is something that you touched on earlier, had immigration of how much kind of immigration from maybe gaps as well. it has how, how much can it still is as much as it has in the past, the, the, the issues of both getting women more involved and more promoted into leadership and all the way through our economies is politically touchy. immigration is even more politically touchy, but these are the 2 levers to managing this new demographic reality. that is

now ours, there's very this, a slow changing long announce things. one of the biggest things i think that governments can do is to start educating their populations about the impacts and consequences and the good news story of much longer lives and yes, much longer engaged, active, working and contributing lives. not as a negative. you know, you're gonna have to sweat shop till you drop kind of profile. but that humans do very badly when they don't have anything to do. we try a huge on retirement. and so getting the entire workforce engaged and then yes, how we have an adult conversation about immigration and why we need in this new demographic time will be part of the story and said, you know, as we see the working age population dropped into was biggest economies the un says

the best balance workforce is most likely be south, south, east asia, africa, and middle east. do you see the, you know, the makeup of the global economy changing because of this demographic change? well, i think it's a bit dangerous to basically determine this problem as a whole in a wall, while what sense i think we have to basically make a cohort type of a know, this is meaning that, you know, if you're talking about mature economy, then you know perhaps we can mitigate, you know, lack of human resource. so various other issues that we've been discussing. but that doesn't apply for a growing nations. for example, like china, their per capita g, d, p is only $12000.00 and that's a far cry from calling it, you know, a mature economy. meaning that they need growth and there are many countries which you just mentioned that needs continue growth, which means that those countries do need to have a continuous increase of population. so i think it's very difficult. we have to

basically make a distinction of where that economy is and the need of human resource and the type of humor which is that it needed is also totally different. so i think we have to basically see this on a case the case basis, particularly on where the position of the economy is. all right, that is due to attack a she to joining us from. she woke up and event which in the cops and london has been great to get your insights. thank you both. thank you. thank you. china is the world's biggest, a steel producer, accounting for more than 50 percent of global output. the nation's ex bullets are expected to top 100000000 tons this year. that's the highest since 2016, but domestic them on for the element is decreasing. chinese still make us a big play in the red and prices of tumbling. that could spell trouble for all the countries to which were worried about fair competition. west of nations have slept

tablets on the chinese steel industry and could ramp up the measures to protect local produces. so mohammed reports, we will be introducing a 100 percent terrace, canada as prime minister adjusting crudo, announcing steep bodies, one chinese dean, an electric vehicle impulse to the seas. china subsidies gets its industries an unfair advantage. we're listening to work shortly. we will be introducing a 100 percent tariff on chinese made electric vehicles and a 25 percent tariff on chinese steel and aluminum. the new types one not well received in the gene. china see the move with home trade between the 2 countries. jeff oxygen will show candidates, move disregards objective facts, disregards w t r roles and goes against the historical trend. it's

a typical protection. his practice that not only undermines china, canada, economic and trade relations, and how does the interests of canadian companies and consumers, but also it doesn't help, can those green transformation process? china used to consume most of this to produce but slow down in the construction industry, jane that steve produces been forced to look elsewhere. still, expos have steady increase in the past 5 years between 202-2020. the exports jump by 43 percent. but it's not the only candidate. and that's citing back us to put it studies on chinese through the, in a big to protect its market from being flooded with chinese inputs. and announcing new types in key sectors of the economy and ensure that our workers are not held back by unfair trade practice. they include saying, i'm announcing the day 25 percent tariff on china is still

a little bit of products and we'll counter chinese over capacity. these industries . only one percent of china student meals a profitable new studies may even change that. have them. i'm just data for counting the cost. joining us from hong kong is gary and he's a senior economist at and as he says and to research found out what the central european institute of asian studies are very well welcome to the program, gary. so how much of the chinese steel industries, problems, because of the down to it and the construction sector as well. i do think for a state is one of the biggest part rooms that china is facing. and especially when we look at the real estate related still the month in the past, we really, you're talking about some way close to 40 percent or many years ago. but right now, of course of things as change. and addition to the monkey room state basically means the oldest to make us will need to find elsewhere to, um, you know,

look for this, the mountain domestically. uh, the situation is due to challenging then obviously it has become um, you know, a bit more appearing to watch the export sides. so i guess that is probably the one problem that i just wanted to make sure those are facing right now. okay, so they have lower demand and the facing export towers overseas, not just and you are paying countries as number of other countries. you know, vietnam, mexico even took a on happy about the chinese to. so why don't produces in china cub production so that they don't have as much of an of a supply as well. um, i think this is pretty much uh, policy different uh, results. and of course, when we looked at the uh copland policy school for the past few years, a lot of this focus has been put on supplies. and does not really too much of that . the government has been on of the month. and also because of the trend,

no need to wait for consumers and businesses of confidence. so right now we do start to see that a more us do make a suffering king offer continue production. and i think of this basically reflect to rely it to you if that well, if it just thought that profitable, and then i mean, they will need to find a way to either come to pass it to you, upgrade the student production, etc. so i think of things are happening right now, but in the very slowly, okay, china has cooled, the terrorists that it's facing, overseas, trade protectionism, weston and emerging nations. right. to be concerned about fair competition. well, i think it depends on, you know, where the, the, uh, the kaufman actually think that this is uh, mostly a result of the uh, subsidies and government support. then of course, on the launch export, the bus has the uh, economy rushing now up behind because of the global inflation. and that basically means that it's much cheaper to produce in china and export to the rest of to well

nowadays. then i think there is that you can make that could be find that, but of course, um, over the past 1020 years with a lot of this company is uh, actually state own and possibly support by a subsidy is uh that is also true. so um, yeah, i mean um is perfectly uh, a bit complicated to say whether this is trudy update or not depending on which angle that you look at. okay, i think the rely too is that um yeah, we will see more export and well, yeah, i mean like you said, europe for example is expected to see more exports to do the tabitha work. well, i think really depends on where the, that there is a more attorney to freight. and of course, if that is like a 100 percent, know maybe even more percentage of the tariff, if that will make every expensive then of course, uh consumers and businesses will make the choice. but we've, we had talked really talking about a relatively small integrity of, i do not think it will bucks that easily. and of course,

we all know that exports is a fair create to find out what day is done. i mean, a lot of just you may be re routed through a different country to watch the talk to the markets. so tariff may not be really the best solution to all of this problem. okay, and just lastly we have seen steve out flows from china, have a history fueling trades that do you expect, do you think that we're on the verge of and yes, and now the trade will with tips for pat tablets? well, i think we're pretty much um into the situation already. i mean we're, we're, we're, we can say that may be what's happening in the past few years. may be the 1st, 2nd for an episode or something to tackle or chip or, and you know, all this us trying to strategic competition that i think increasingly were in the well that we will see more trade batteries. um, you know, between different countries. and we really do see that china would retaliate went areas, you know, all the time of place on the products. and the other way is also true to the same

for japan, canada, and the u. a many of the country. so i think this is pretty much it where we are heading right now and even for um, you know, uh we haven't been enjoying this a different enough the globalization to could be a certain degree of starting back into the future. gary and hong kong. thank you very much for your time. we really appreciate it to and here's a highlights for the week time has comments. it has reached a record share of global payments and july 53 percent of china's inbound and outbound transactions were paid and one up from 8040 percent for the same month and 2021 because he kept it full place falls from the ranking of payment currencies last month, with almost 5 percent of global transactions, china has been pushing for the use of its compensate in international trade settlements since 2009. the move is positive, its response to the global financial crisis. us sanctions against russia following its invasion of ukraine has helped boost the use of you on an international

payments. recently, washington has limited, must goes ability to transact in dollars and what seen as a weaponized nation of a dollar policy swap lines that badging opened over new last year with saudi arabia, argentina, and mongolia have also helped increase trade settlements in the one. now for some news, in brief, a hardship maker in video last, almost $280000000000.00 and market capitalization last week, that's worth more than all the shares of some of the biggest companies in the us, including mcdonalds, chevron and pepsi. the company has been in decline since june when it reached $3.00 trillion dollars in value. the highest for any public company in video has let us stock market set off in the us. what salacious? prepped asian and european markets. the travel industry is expected to contribute a rec, quote, 11 trillion dollars to the global economy. this year the wall will travel and

tourism council says $1.00 out of every 10 spent globally in 2024 will be on hotels, cruises and flights travel spending in the us, china and germany is expected to contribute the most to g d p. the sector is expected to support 1348000000 jobs in 2024. video games industry is a lucrative business. the global market value reached almost 200000000000 dollars last year. it's revenues have tools that are streaming ad box office sales. the global pandemic has helped drive the industries explosive goals consume is no longer hold up in the homes and gaming is facing some challenges. had a bad stop. the see, a sales of slumped and major companies have slashed thousands of jobs. the industry is set to go to more than 2 percent year over here to media $188000000000.00. that is slightly down from this january full cost of 2.8 percent. almost half of all

consumer spending on games is expected to come from the us and china this year. from 2021 to 20. $23.00 games have the quoted few hours of play with the average quarterly plays on 4 and 26 percent. baton is licensed video game. black miss will call has matched world reco was selling 10000000 copies in just 3 days. that's expected to boost of industry a few years off of agents crackdown on gaming the game. friends, the chinese classic tale journey to the west. audiences worldwide, according to china, game industry, the pool to oversee sales of chinese games reached within 24000000 dollars last year. well, joining us from tokyo as mach einstein and research director at count of point research, a global technology research for i'm great to see you mark. so why is the gaming industry seeing it's biggest down to and so to yes. right, so i think as you mentioned in your intro, uh, the gaming industry got

a huge boom from covered and locked downs and things like that. and now that, you know, we've returned back to normal. uh, the gaming industry has been in a bit of a swap. so i don't think this is um, incredibly surprising. cannot recover from this lump. what does the industry need to do to load that game is or so i think what's really interesting about gaming now is a i, i think we've all seen generative a, i enter our lives in, in various ways. and i think they, i is really going to enable people to make themselves more immersive and, and creative experiences. so i actually think user generated content is one of the main features that we're going to see in gaming that can help, you know, increase sales going forward. okay? so those are some of the positives of a i, but what role do you think has played? and the thousands of job losses that we've seen in the industry recently. right. so i think the generative a,

i a is going to impact the gaming industry more than most other industries. because i think what we're seeing is now graphic design, music editing, you know, special effects. all these things can now be done by a guy, you know, much cheaper, fast or an easier way. so layoffs are going to impact the sector going forward. okay? if we look at how the gaming industry is doing in different locations, it's not doing nearly as well in the us as it is in china. why is best? well, i think that what's very interesting about china is that, you know, china is, you know, seeing new studios enter the market and are now making epic games themselves, which are not only doing well in china, but are doing well overseas, which is something that we haven't really seen before, so i do think that that is one of the factors is that you know, homegrown epic level games are now starting to be made in china and are doing very well. and is that what's behind the splash around blacksmith to so it's interesting

because, you know, previously, chinese gains were really only focused on the domestic market and only selling well in the domestic market. but this game sold 10000000 copies and 3 days, and it is destroying records, global records on, on steam as we speak. um, so it is surprising because really american and japanese companies have had dominated the industry for so long. but i think we might see the start of an international push from china game developers. all right, mark, thank you so much for your time on this. that is mark einstein in tokyo. and that's, as i show for this, we get in touch with us on x, fully known as twitter. i'm at, let's put on them and do use the hash tag a j c t c. when you do or drop us an e mail counter, the cost at i'll just say i don't mess is not address. and as more for you online, it will just be a dot com slash ctc. that'll take you straight to

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to work from as a journalist, you're always pushing our boundaries. we are the ones traveling the extra mile where all the media goals we go there and we give them a time to tell their story. the is there any forces kill us active as during a protest against the legal settlements in new york pod westbank the i'm on site, this is out. is there a line from the also coming up? donald trump will be sentenced until off to the us presidential elections. off to being found guilty of paying house money to an adult film. so the u. s. pledges move ministry aid to ukraine as president savanski.